South Africa: Inflation inches down in April
April 20, 2016
In April, consumer prices increased 0.83% over the previous month, which came in above March’s 0.75% increase. According to Statistics South Africa, April’s result mainly reflected higher prices for food and housing.
Inflation inched down from 6.3% in March to 6.2% in April, thus hitting the lowest reading in four months. As a result, inflation continues to remain above the Central Bank’s target range of 3.0%–6.0%. Annual average inflation inched up from 5.2% in March to 5.3% in April, reaching the highest reading since April 2015.
Core consumer prices, which exclude prices for food, fuel and electricity, rose 0.2% over the previous month, which was below the 1.0% increase observed in March. Finally, annual core inflation was stable at March’s 5.8%.
Author: Dirina Mançellari, Senior Economist